Form W-4 for 2014: Best Practices and Compliance Requirements
Product Format Pre Recorded Webinar
Conference Date Tuesday, June 24, 2014
Aired Time 12:00 am ET | 11:00 pm CT | 10:00 pm MT | 9:00 pm PT
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Effective Methods for Handling Incomplete or Improperly Completed Forms
The importance of the Form W-4 is fundamental to the payroll department. Most payroll functions from beginning to end rely on the information provided on the form. It is the foundation for the taxation of an employee’s paycheck as well as a required IRS form. Failure to handle the form correctly and completely can open the door to serious problems not only in properly withholding from the employee’s gross wages, but its ramifications could extend beyond the regulations and affect payroll customer service or employee morale. It can even lead to costly expenditures of time and budget resources to correct non-compliance consequences.
Questions arise in processing the forms almost daily in a payroll department. Is it a valid form? If not, what should payroll do to correct the problem? Can the employee request a flat dollar amount on the form? Can the form designate a percentage of wages for taxes? These are the types of questions that must be answered to process the form completely and correctly. And it isn’t just the federal form that payroll must process; many states have their own version of the form or use the federal form for state tax withholding.
With this session by
Vicki M. Lambert, CPP, the attendee will better understand the function and requirements of the Form W-4 and its relationship to the payroll process. This information will also allow you to identify and correct problems and errors in completing and processing the Form W-4 which will enable your payroll department to operate more efficiently and effectively. This webinar is an excellent source for those new to the payroll profession and a great refresher program for the seasoned payroll professional. Session highlights: The effective date of new and revised Form W-4 information Effective methods for handling incomplete or improperly completed forms When you must send Form W-4 to the IRS—it’s not what you think Effective strategies for streamlining your processing procedures you can use right now How to withhold federal taxes in the absence of a valid Form W-4 The difference between an invalid form and a “questionable” one The record retention requirements for Form W-4 How to make employee verification part of your Form W-4 process Tips on setting up an electronic system for Form W-4 State equivalent forms versus Form W-4 When an employee must submit a new form versus when they may submit a revised form How to deal with visas and Form W-4 Who should attend Human Resources Payroll professionals Accounting Personnel Business Owners Lawmakers Attorneys Any individual or entity that must handle the processing of payrolls including the Form W-4
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